The British Horseracing Authority (BHA) has launched an appeal to the British public to rally against proposed tax rises on horse racing betting, which could cost the industry £330 million in revenue in the first five years.

This figure comes from new independent research commissioned by the BHA into the impact that the proposed tax increases will have on the industry.

The government is proposing to tax betting on horseracing at the same rate as online casinos, rising from 15 per cent to 21 per cent.

The research found that this level of tax rise could cost the industry £66 million a year and put 2,752 people at risk of losing their jobs in the first year.

In response to the findings of the research, the BHA has launched its #AxeTheRacingTax campaign.

The campaign urges the sport and the public to come together to back the industry and stop the tax rise by signing the association’s campaign.

“This latest tax bombshell from the Government, if followed through, poses one of the gravest risks to horseracing the sport has ever seen,” said BHA chief executive Brant Dunshea.

“The horseracing industry is already in a precarious financial position, and the latest research provides a much more catastrophic forecast than we first thought. We’re talking thousands of jobs at risk across the supply chain, severely impacted towns and communities, and the irreversible decline of the country’s second most popular sport.

“Together as an entire industry, we’re asking the British public for support in calling on the Government to rethink this policy and stop undermining a much-loved part of British heritage and culture. It’s time to axe the racing tax and back British horseracing.”

David Menuisier, racehorse trainer at Coombelands Racing Stables, added: “This move from the Government would put thousands of trainers, owners, jockeys and stable staff at risk. Racing is much more than just a sport in this country.

“It brings fun and excitement to millions and is a major local employer, particularly here in West Sussex as we prepare for another fantastic year at Goodwood.

“The Government needs to acknowledge the unique and significant social and economic contributions the horseracing industry makes to the country and stop risking the ecosystem that keeps this sport alive.”

Sarah Guest, yard manager for John O’Shea Racing, commented: “A tax rise on betting is only going to stifle the sport. I love what I do, but if the industry starts shrinking, it will be stable staff like me who will feel it first. It’s a genuine worry, and the Government needs to understand this is going to have significant impact on everyone working in racing – not just the betting companies.”